Thousands of dollars have recently been lost in Wellington County due to crypto scams, and Wellington County OPP are warning residents to be aware.
A media release from Wellington County OPP shares that cryptocurrency investment scams have cost numerous residents thousands over the last few months.
According to the media release, the Canadian Anti-Fraud Centre (CAFC) numbers show that in 2024, Ontario residents lost approximately $284 million in an assortment of frauds, with another $569 million being reported in 2023. The CAFC estimates that only 5-10 percent of frauds are reported to them or police.
Wellington County OPP want residents to look out for:
Investment opportunities with higher-than-normal returns.
Unsolicited telephone, email or social media investment offers.
Individuals who display a false sense of urgency so you don't miss out.
An individual met on a dating or social media website who quickly attempts to convince you to invest into cryptocurrency.
A friend tells you about a cryptocurrency investment opportunity via social media or email.
Telephone calls from crypto investment companies.
Fraudulent ads posted on the internet or social media.
Request to transfer your crypto investment to an alternate crypto address.
If you fall victim to a fraud, report it to local police and the Canadian Anti-Fraud Centre.
For more information on scams and frauds, the public is encouraged to read The Little Black Book of Scams, which can be found online: https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03074.html